Fantasy gaming platform Dream11 is all set to replace edtech major Byju’s as the principal jersey sponsor of the Indian cricket teams for an undisclosed amount which is expected to be lesser than the previous deal.
Byju’s had quit after the end of the last financial cycle and Board of Control for Cricket in India (BCCI) had invited closed bids for its new sponsor and Dream11 was one of the prominent names to have submitted its bid.
"Yes, Dream11 will be the new jersey sponsor of the Indian team. You can expect an announcement in few days' time," a BCCI source tracking the development told PTI on the condition of anonymity.
When people associated with Dream11 were contacted, they cited that certain protocols are in place before they can make a formal announcement of the deal.
The Real Money Gaming (RMG) like Rummy and Poker were among the companies prohibited from submitting bids.
In case of principal jersey sponsors, the money given for every bilateral fixture where the sponsors name is in the middle of the shirt is three times more compared to what it pays for an International Cricket Council’s fixture where the centre of the jersey carries the country name and sponsors logo doesn't get a vantage positioning.
In May this year, the Indian cricket board had roped in sports apparel giant Adidas as new kit sponsor.
The national team will be seen in action on the tour the Caribbean nation where they play 2 Tests, 3 ODIs, and 5 T20Is against the West Indies.
Later in the year, the team will play as hosts in the 10-team 50-over World Cup between October 5 and November 19 with each team playing the other once and the top four reaching the semi-finals.
The final will be played at the Narendra Modi stadium in Ahmedabad.
(With inputs from Agencies)